China reports threefold surge in 2010 aviation profit

CAAC reported the following financial highlights for China's civil aviation industry in 2010 (China News/Xinhua/Shanghai Daily, 11/12-Jan-2011):

• Operating revenue*: USD62.4 billion, +37.2% year-on-year;
• Profit: USD6.6 billion, +258%;
  • Airlines: USD5.3 billion, attributable to events including the Shanghai World Expo and Asian Games;
  • Airports: USD758.7 million, n/a;
• Passenger numbers: 267 million, +15.8%;
• Cargo volume: 5.6 million tonnes, +25%;
• 2011 forecast:
  • Passenger numbers: 300 million, +13%;
  • Cargo volume: 6.2 million tonnes, +11.5%;
  • Fixed asset investment: USD10.6 billion.

* Based on the conversion rate at USD1 = CNY6.59

CAAC Vice Director Wang Changshun stated China will make a fixed-asset investment of CNY70 billion (USD10.6 billion) in 2011, which will include CNY55.0 billion (USD8.3 billion) in airport construction including work on six new airports, CNY5.0 billion (USD758.7 million) in ATM infrastructure construction and CNY5.0 billion (USD758.7 million) in safety.